How much is a home worth in ZIP code 23703?

The typical home in 23703 is worth $320,509, based on the Zillow Home Value Index.

Are home values rising in 23703?

Home values in 23703 are up 2.0% over the past year, and up 5.4% a year over five years.

What is the typical rent in 23703?

A typical home in 23703 rents for about $1,752 a month, a gross rental yield of 6.6%.

What is the property tax rate in 23703?

The effective property tax rate in 23703 is 0.9% — roughly $2,895 a year on a typical home.

ZIP code 23703 has a population of 25,610 and a median household income of $78,707.

HousingHandbookReference data

…

U.S. ZIP Code · VA23703

Portsmouth city · Virginia Beach-Chesapeake-Norfolk, VA-NC

Typical home value

$320,509^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +2.0%
5-year / yr: +5.4%
10-year / yr: +5.5%

Relative price

vs U.S.: +12.8%
vs metro: -9.0%
vs state: -2.4%

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 23703 is worth $320,509 — 9.0% below the Virginia Beach-Chesapeake-Norfolk, VA-NC median. Over the past year, values have risen 2.0%. Homes here rent for a typical $1,752 a month — a 6.6% gross rental yield. The effective property tax rate is 0.9%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $1,752^[2]
Gross yield: 6.6%^[2]
Cap rate: 3.9%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 0.9%^[3]
Typical annual tax: $2,895^[3]

#Climate risk

FEMA National Risk Index ratings for Portsmouth city. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively Low^[4]
Riverine flood: Relatively Low
Coastal flood: Relatively Moderate
Wildfire: Very Low
Drought: No Rating
Heat wave: Relatively Low
Hurricane: Relatively Moderate
Tornado: Relatively Low
Earthquake: Relatively Low
Winter weather: Relatively Moderate

#Who lives here

Population: 25,610^[3]
Median household income: $78,707^[3]

#Migration

Household moves in and out of Portsmouth city over a year, from IRS tax-return data.

Net migration: -25^[5]
Moved in: 4,472
Moved out: 4,497

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 6
Elementary: 3
Middle: 1
High: 1

Churchland High
High · Grades 9–12 · Portsmouth City Public Schools
1,452 students
Churchland Middle
Middle · Grades 7–8 · Portsmouth City Public Schools
840 students
Churchland Elementary
Elementary · Grades K–6 · Portsmouth City Public Schools
760 students
Churchland Academy Elementary
Elementary · Grades K–6 · Portsmouth City Public Schools
600 students
Churchland Primary & Intermediate
Elementary · Grades K–6 · Portsmouth City Public Schools
511 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield6.6%

Net yield (after ~40% expenses)3.9%

Annual rent$21,023

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$1,621

Loan principal$256,407

Down payment$64,102

Total interest paid$327,033

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio1.21

Monthly cost to own$2,128

Monthly rent$1,752

Renting is meaningfully cheaper month-to-month.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 41st percentile^[1]
Rental yield: 54th percentile^[2]
Property tax: 77th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 23703?: The typical home in 23703 is worth $320,509, based on the Zillow Home Value Index.
Are home values rising in 23703?: Home values in 23703 are up 2.0% over the past year, and up 5.4% a year over five years.
What is the typical rent in 23703?: A typical home in 23703 rents for about $1,752 a month, a gross rental yield of 6.6%.
What is the property tax rate in 23703?: The effective property tax rate in 23703 is 0.9% — roughly $2,895 a year on a typical home.
Who lives in 23703?: ZIP code 23703 has a population of 25,610 and a median household income of $78,707.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

23325 vs 23703 →
Chesapeake, VA
Typical home
$324,284
Gross yield
7.2%
23462 vs 23703 →
Virginia Beach, VA
Typical home
$325,909
Gross yield
7.0%
23503
Norfolk, VA
Typical home
$315,027
Gross yield
6.1%
23602
Newport News, VA
Typical home
$314,160
Gross yield
6.1%
23505
Norfolk, VA
Typical home
$327,689
Gross yield
6.3%
23517
Norfolk, VA
Typical home
$328,548
Gross yield
6.2%

Want similar ZIPs from outside this metro? Browse nationally similar ZIPs →

Compare ZIPs

Pit ZIP 23703 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · VA23703

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